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Omar Venerio
Omar Venerio
Articles (1462) 

2 Stocks Move Tuesday

Dick's Sporting Goods falls, Northern Oil and Gas rises

March 12, 2019 | About:

Shares of Dick's Sporting Goods Inc. (NYSE:DKS) fell almost 11% on Tuesday after the company posted fourth-quarter earnings of $1.07 per share on $2.49 billion in revenue, reflecting a 6.4% year-over-year decline. The company beat revenue expectations by $10 million.

During the quarter, e-commerce sales grew17% and represent almost 23% of total net sales, up from 19% in the prior-year quarter.

"We are pleased with our fourth-quarter results," Chairman and CEO Edward W. Stack said. "Our core business performed quite well, as our athletes have responded positively to many of our initiatives, resulting in comp sales gains across key categories and double-digit percentage increases in e-commerce and private brand sales."

Moreover, the company repurchased 957,000 shares at an average price of $35.23 per share, for a total cost of $33.7 million. For the full year, the company repurchased about 9.6 million shares at an average cost of $33.78 per share, for a total cost of $323.4 million.

Looking ahead, the company expects full-year earnings per share to be between $3.15 and $3.35. It also plans to open seven new stores and relocate three others.

Shares of Northern Oil and Gas Inc. (NOG) gained about 7% on Tuesday after announcing fourth-quarter results. The company posted earnings of 25 cents per share on $152.57 million in revenue, a 110.5% year-over-year growth. The company beatearnings estimates by 11 cents, but revenue fell $1.02 million short of expectations.

During the quarter, production more than doubled from the year-ago quarter and increased 36% from the prior quarter to 3.34 million barrels of oil equivalent .Oil and gas sales rose 111% to $152.6 million. Adjusted earnings before interest, taxes, depreciation and amortization grew 157% to $124.9 million.

For the year, total production increased 73% to 9.33 million barrelsand adjusted EBITDA climbed 141% to $349.3 million.

Disclosure:The author holds no position in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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